China: Steel billet prices edge up RMB 20/t ($3/t) d-o-d

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Domestic billets prices in China’s Tangshan rose d-o-d by RMB 20/t ($3/t) to RMB 3,580/t ($500/t), inclusive of 13% VAT on 29 Nov’22.
Hike in futures and stability in finished steel prices have supported billets prices, SteelMint noted.
China’s SHFE rebars futures contract for Jan’23 delivery closed today at RMB 3,765/t ($525/t), an increase of RMB 27/t ($4/t) d-o-d.

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